$WLK
WESTLAKE CORP

2022 Q3 Form 10-Q Financial Statement

#000126282322000043 Filed on August 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $3.956B $4.483B $3.507B
YoY Change 29.49% 56.8% 78.47%
Cost Of Revenue $3.180B $3.038B $2.411B
YoY Change 56.11% 52.89% 46.83%
Gross Profit $776.0M $1.445B $1.096B
YoY Change -23.77% 65.71% 239.32%
Gross Profit Margin 19.62% 32.23% 31.25%
Selling, General & Admin $215.0M $220.0M $168.0M
YoY Change 76.23% 76.0% 43.59%
% of Gross Profit 27.71% 15.22% 15.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $264.0M $264.0M $240.0M
YoY Change 30.05% 30.69% 22.45%
% of Gross Profit 34.02% 18.27% 21.9%
Operating Expenses $215.0M $220.0M $208.0M
YoY Change 76.23% 76.0% 43.45%
Operating Profit $516.0M $1.175B $888.0M
YoY Change -40.07% 63.19% 398.88%
Interest Expense $44.00M $44.00M -$46.00M
YoY Change -27.87% 22.22% 35.29%
% of Operating Profit 8.53% 3.74% -5.18%
Other Income/Expense, Net $24.00M $17.00M $18.00M
YoY Change 84.62% 70.0% 50.0%
Pretax Income $496.0M $1.148B $845.0M
YoY Change -38.99% 65.42% 441.67%
Income Tax $84.00M $275.0M $184.0M
% Of Pretax Income 16.94% 23.95% 21.78%
Net Earnings $401.0M $858.0M $644.0M
YoY Change -33.94% 64.37% 469.91%
Net Earnings / Revenue 10.14% 19.14% 18.36%
Basic Earnings Per Share $3.12 $6.65
Diluted Earnings Per Share $3.10 $6.60 $5.005M
COMMON SHARES
Basic Shares Outstanding 128.0M shares 128.3M shares 127.8M shares
Diluted Shares Outstanding 128.7M shares 129.3M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.778B $1.317B $1.908B
YoY Change -50.21% -28.58% 45.32%
Cash & Equivalents $1.778B $1.317B $1.908B
Short-Term Investments
Other Short-Term Assets $118.0M $140.0M $80.00M
YoY Change 20.41% 60.92% 150.0%
Inventory $2.024B $2.021B $1.407B
Prepaid Expenses
Receivables $1.968B $2.391B $1.741B
Other Receivables $89.00M $93.00M $65.00M
Total Short-Term Assets $6.101B $6.013B $5.263B
YoY Change -5.19% 35.28% 51.37%
LONG-TERM ASSETS
Property, Plant & Equipment $8.301B $8.303B $7.606B
YoY Change 18.72% 20.0% 9.91%
Goodwill $2.143B $2.139B $2.024B
YoY Change 71.03% 97.14% 86.89%
Intangibles
YoY Change
Long-Term Investments $1.147B $1.143B $1.007B
YoY Change 13.56% 13.28% -4.91%
Other Assets $575.0M $527.0M $417.0M
YoY Change 112.18% 105.86% 87.0%
Total Long-Term Assets $14.32B $14.36B $13.20B
YoY Change 34.21% 39.76% 27.4%
TOTAL ASSETS
Total Short-Term Assets $6.101B $6.013B $5.263B
Total Long-Term Assets $14.32B $14.36B $13.20B
Total Assets $20.43B $20.37B $18.46B
YoY Change 19.39% 38.41% 33.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $994.0M $1.144B $879.0M
YoY Change 38.44% 71.51% 63.99%
Accrued Expenses $1.461B $1.359B $1.196B
YoY Change 60.2% 66.14% 45.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $6.000M $10.00M $269.0M
YoY Change -97.76% -50.0%
Total Short-Term Liabilities $2.461B $2.513B $2.344B
YoY Change 29.66% 69.23% 72.73%
LONG-TERM LIABILITIES
Long-Term Debt $4.813B $4.858B $4.911B
YoY Change -2.35% 36.65% 37.72%
Other Long-Term Liabilities $292.0M $273.0M $243.0M
YoY Change 37.09% 35.15% 22.11%
Total Long-Term Liabilities $5.105B $5.131B $5.154B
YoY Change -0.72% 36.57% 36.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.461B $2.513B $2.344B
Total Long-Term Liabilities $5.105B $5.131B $5.154B
Total Liabilities $10.24B $10.40B $9.931B
YoY Change 10.8% 40.89% 36.85%
SHAREHOLDERS EQUITY
Retained Earnings $9.700B $9.345B $7.808B
YoY Change 34.68% 40.89% 31.49%
Common Stock $591.0M $583.0M $582.0M
YoY Change 2.43% 1.92% 2.11%
Preferred Stock
YoY Change
Treasury Stock (at cost) $439.0M $408.0M $399.0M
YoY Change 8.13% 7.94% -0.5%
Treasury Stock Shares 6.736M shares
Shareholders Equity $9.621B $9.404B $7.955B
YoY Change
Total Liabilities & Shareholders Equity $20.43B $20.37B $18.46B
YoY Change 19.39% 38.41% 33.42%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $401.0M $858.0M $644.0M
YoY Change -33.94% 64.37% 469.91%
Depreciation, Depletion And Amortization $264.0M $264.0M $240.0M
YoY Change 30.05% 30.69% 22.45%
Cash From Operating Activities $947.0M $913.0M $757.0M
YoY Change 25.43% 47.97% 75.64%
INVESTING ACTIVITIES
Capital Expenditures -$318.0M -$230.0M -$244.0M
YoY Change -320.83% -278.29% 100.0%
Acquisitions
YoY Change
Other Investing Activities -$27.00M -$66.00M -$2.127B
YoY Change -93.78% 10028.57%
Cash From Investing Activities -$345.0M -$296.0M -$2.371B
YoY Change -40.31% 129.46% 1558.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -103.0M -330.0M -50.00M
YoY Change -106.61% 768.42% -75.25%
NET CHANGE
Cash From Operating Activities 947.0M 913.0M 757.0M
Cash From Investing Activities -345.0M -296.0M -2.371B
Cash From Financing Activities -103.0M -330.0M -50.00M
Net Change In Cash 499.0M 287.0M -1.664B
YoY Change -71.26% -36.22% -2034.88%
FREE CASH FLOW
Cash From Operating Activities $947.0M $913.0M $757.0M
Capital Expenditures -$318.0M -$230.0M -$244.0M
Free Cash Flow $1.265B $1.143B $1.001B
YoY Change 107.04% 134.22% 81.01%

Facts In Submission

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CY2021Q4 us-gaap Deferred Costs And Other Assets
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CY2021Q4 us-gaap Accrued Liabilities Current
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CY2022Q2 us-gaap Due To Related Parties Current
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CY2021Q4 us-gaap Due To Related Parties Current
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wlk Restructuring Transactionand Integration Cost
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wlk Restructuring Transactionand Integration Cost
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CY2021Q2 wlk Restructuring Transactionand Integration Cost
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022Q2 us-gaap Loss Contingency Accrual At Carrying Value
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CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
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wlk Site Contingency Percentageof Cost Potentiallyof Other Responsible Parties
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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CY2022Q2 us-gaap Depreciation Depletion And Amortization
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CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
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CY2022Q2 us-gaap Nonoperating Income Expense
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CY2021Q2 us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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CY2022Q2 us-gaap Income Tax Expense Benefit
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CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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CY2022Q2 us-gaap Operating Income Loss
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CY2021Q2 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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CY2022Q2 us-gaap Interest Expense
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CY2021Q2 us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
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us-gaap Interest Expense
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CY2022Q2 us-gaap Nonoperating Income Expense
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CY2021Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1148000000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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694000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022Q2 us-gaap Assets
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CY2021Q4 us-gaap Assets
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CY2014 us-gaap Partners Capital Account Units Sold In Public Offering
PartnersCapitalAccountUnitsSoldInPublicOffering
12937500 shares
CY2018Q4 wlk Partners Units Maximum Aggregate Offering Amount Atm
PartnersUnitsMaximumAggregateOfferingAmountATM
50000000 usd

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